Gold prices have surged to record levels ahead of Dhanteras and Diwali, driving an unexpected spike in demand at Tanishq, according to Ajoy Chawla, CEO of Titan’s Jewellery Division. He cautioned that the company might soon face a shortage of gold coins due to the overwhelming rush.
Chawla told NDTV Profit that after a slow start to the season, with many buyers hesitant during Navratra, demand has revived strongly as customers now believe gold prices will remain high or rise further. The festive sentiment has brought back buyers who were earlier waiting for a correction.
Gold rates in New Delhi neared ₹1.3 lakh per 10 grams, a new all-time high. Traditionally, Dhanteras marks a peak in gold and silver purchases, and this year’s buying spree includes not just jewellery but also investment pieces like coins and bars.
Chawla admitted that despite Tanishq’s preparations, limited bullion supply could cause shortages. Analysts at ANZ forecast global gold prices might hit $4,400 per ounce by end-2025 amid geopolitical tensions and anticipated U.S. monetary easing.
